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Prince George's County committee approves $9.4 million in housing trust allocations and related PILOT agreements
Summary
The County Council Committee of the Whole approved multiple Housing Investment Trust allocations and accompanying payment-in-lieu-of-taxes (PILOT) pilot agreements for several affordable housing projects, with all measures passing on voice or roll-call votes.
Prince George's County Council's Committee of the Whole on April 15 approved a series of resolutions committing Housing Investment Trust funds and approving associated payment-in-lieu-of-taxes pilot agreements for several affordable housing projects in the county.
The committee approved four trust-funding resolutions allocating $2,500,000 each for New Carrollton Affordable Phase 1 (CR-27-2025), New Carrollton Affordable Phase 2 (CR-29-2025) and Penn Place 1 (CR-35-2025), and $1,900,000 for Park Place at Addison Road Metro (CR-31-2025). The measures passed by roll call or voice votes and were recorded as carrying with 10 ayes on votes where the roll was called.
Why it matters: The allocations are intended to provide gap financing for new affordable rental housing construction in Prince George's County. Several of the trust commitments were considered alongside pilot PILOT agreements — contractual tools that set long-term, negotiated tax payments for specific affordable housing developments — intended to support…
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